DELUXE COMPLETES PURCHASE OF PAPERDIRECT, INC.
ST. PAUL, Minn., Sept. 23 /PRNewswire/ -- Deluxe Corporation (NYSE: DLX) announced today that it has completed the acquisition of PaperDirect, Inc., the nation's leading direct marketer of specialty papers and related products to the desktop publishing industry. Founded in 1987, PaperDirect is headquartered in Lyndhurst, N.J. Revenues for PaperDirect are projected to exceed $70 million in 1993. PaperDirect serves a wide customer base, totaling more than 450,000 small- and mid-sized businesses, educational institutions, and home offices. It markets an extensive live of proprietary paper products, which are available in different weights and finishes and are often preprinted in various colors with elaborate screens or graphics. PaperDirect products are designed for use in laser printers and plain paper copiers. Typical applications range from letterhead and brochures to greeting cards and signs. Deluxe Corporation is an industry leader in providing products and services to the financial payment systems industry. The company is the nation's largest check printer and also provides electronic funds transfer (EFT) processing services and software, debit and credit card services, and account verification services to financial institutions. The company also provides check authorization services to retailers. Deluxe's Business Systems Division produces a variety of computer and business forms and related products for small businesses and professional practices; and also tax forms and electronic tax filing services to tax preparation professionals. The company's Consumer Specialty Products Division markets greeting cards, gift wrap, stationery and a variety of related products to households. -0- 9/23/93 /CONTACT: Stuart Alexander, vice president, corporate public relations, 612-483-7356 or Charles M. Osborne, senior vice president and chief financial officer, 612-483-7355, both of Deluxe/ (DLX)
CO: Deluxe Corporation; PaperDirect, Inc. ST: Minnesota IN: PUB SU: TNM
DS-PB -- MN005 -- 5287 09/23/93 14:19 EDT
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|Date:||Sep 23, 1993|
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